Egypt is set to upgrade Alexandria’s oldest tram network at a total cost of EUR 360 mn, which the French Development Agency (AFD) will partially fund with EUR 100 mn, Invest-Gate reports.
The Ministry of Investment and International Cooperation signed an EUR 100 mn deal with AFD to upgrade Alexandria’s Raml tram line, known as the Blue Tram, which connects the city’s Western and eastern sections.
The project aims to extend the route of the 150-year-old tram line and renovate stations and cars. It would also eventually double capacity from 100,000 daily passengers to 230,000, according to the Ministry of Investment and International Cooperation (MIIC).
The budget for the project, which will be carried out over three years, is EUR 360 mn; EUR 100 mn from AFD, EUR 180 mn from the European Investment Bank, and the equivalent of EUR 80 mn in local currency from the ministry, Transport Minister Hisham Arafat says as noted in a ministry statement.